Benefits of Using Augmented Reality in Retail
AR used the possibilities of computer techniques to increase the feeling and experience of the product by adding interactive levels.
AR as an innovative technology has become an indispensable and integral part of the experience of users whose reality is enriched with new information and content using digital media. AR has brought a new experience of connecting and overlapping the virtual and real worlds on the screens of available devices. Due to its unimagined possibilities, high development power, and in the next wide application, AR will achieve a dominant place in industry, art, health care, and trade. Marketers create very interesting, amazing, and interactive experiences. Brands use AR marketing to stand out in a competitive market. By 2023 (Threekit, 2020), the global VR/AR market is expected to have a 77% annual growth rate. The data shows that the customer has significant comfort and that he is willing to pay more for comfort, i.e., 40% of consumers (Threekit, 2020) will pay more for a product adapted to AR.
How is augmented reality used in retail?
The retail industry has chosen to adopt state-of-the-art technologies in the areas of marketing, advertising, new content, and customer service. Retailers and new brands are adopting innovative and impressive digital methods to increase revenue and engage consumers. As retailers and innovative brands become more and more available, they are developing their business in a new successful direction by adopting and implementing the latest technologies.
To move the created scene and lose the boundaries between virtual objects and the real world, digital media such as videos, 3D models, and other forms are included. According to data from 2020, when there were 598 million AR devices, it is expected that in 2024 there will be 1.73 billion (Reydar, 2021). AR expands the real world with additional virtual objects using computer vision technology and camera devices. The application of AR has enabled brands to improve customer engagement and loyalty. There are two completely different ways of applying AR in retail: 1. When customers in a store gain AR experience via special AR hardware, AR glasses, or, more commonly, cameras on a handheld device,2. Getting hands-on experience with augmented reality through the use of mobile or web AR applications for e-commerce. To achieve significant success and justification for the application of AR, it would be best to combine both methods and develop new strategies.
In the course of business, marketing experts introduce new methods and tactics and find solutions for sales and market values.
Benefits Of Augmented Reality In Retail Industry
Retailers and innovative brands have recognized several benefits provided by the application of AR in their business. First of all, it is an increase in sales due to the possibility for the customer to try the product virtually before buying, which shortens the trade path and increases conversions. The application of AR has increased customer engagement and information sharing on social networks. Merchants receive information on both the interests of customers and their patterns of behavior or requirements during the purchase. This is how insights for marketing and advertising campaigns are gained. By using handheld devices, consumers get instant information about the products they are interested in, which reduces the number of staff in the store, strengthens the relationship with the brand, and leads to a jump in customer loyalty.
The application of AR in shopping, either offline or online, brings a whole new impressive digital user experience. Since science and technology know no boundaries, experts engaged in the field of creating new content in the fields of marketing, advertising, and sales study current trends daily to predict future events.
Data shows that 32% (Threekit, 2020) of consumers use AR while shopping in 2021 and that retail will account for 5% of AR use by 2022.
The retail and innovative brand industries are expanding. The possibilities of AR as an impressive technology are unimaginable. Their interconnectedness and intertwining lead to new success in the global market.
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